Deflation in Russia is possible in second half of July 2015 — deputy finance minister

MOSCOW, May 26. /TASS/. The Russian Ministry of Finance does not rule out the deflation in the second half of July 2015, Deputy Finance Minister Maxim Oreshkin said on Tuesday.

"We expect the deflation in the second half of July," Oreshkin said.

The Ministry of Finance leaves open the possibility for the inflation in Russia to reach 10.5% at 2015 year-end, the deputy minister added. "It may be 10.5%, I do not rule it out. This is according to the optimistic scenario," Oreshkin said.

Inflation in Russia equaled 0.1% from May 13 to 18, 2005, and this trend is maintained for 4 weeks in succession. According to the Russian Federal Statistics Service, inflation amounted to 8.2% from the year beginning.

Inflation in Russia will total 11% in 2015, the Ministry of Finance said last week. The Ministry of Economic Development and the Central Bank of Russia continue keeping their inflation forecast of about 12%.